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Your World With Neil Cavuto

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  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    January 11, 2013
    1:00 - 2:00pm PST  

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>> shepard: police in tampa are looking for pair of credit card thieves. cops tell us at a base station surveillance camera caught a man and woman swiping a wallet out of an unlocked car and used the cards to buy gas and went on a big spending spree. buy a motorcycle or new tatoos? no, seems the suspects used the credit card to do their laundry. maybe they were just trying to make a -- wait for here -- clean getaway. there was one snicker and some gun fire. that is it for "studio b." i will be back tonight for "the fox report" at 7:00 eastern.
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the dow has been just kind of wishy washy and kind of boring. but it is up at the moment which makes cavuto oh, so happy. hello, neil. captioned by closed captioning services, inc. >> neil: hello. as you have been saying it is big, really big. i'm talking the big apple in the middle of a big flu epidemic. yep, new york. and what is that line they say, if i can make it there i will make it anywhere. this flu thing. everywhere. welcome everyone. glad to have you. neil cavuto. you can run but when it comes to the flu you outbreak you can't ride. not in manhattan or 47 of the nation's 50 states now under the grip of the most severe flu strain many is seen in generations. thousands sickened and at least 20 people dead and a country increasingly panicked and we are all over it from the economic fallout we are
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starting to see because of it to the very real vaccine shortage that might be as a result of it. one hospital had to set up a triage center just to contain the outbreak. >> the last time they needed these tents was for the swine flu epidemic in 2010. -to-s are patients are walking into the emergency room with flu you like symptoms and they don't have the facilities to treat them all. and they want to keep distance between patients that don't have the flu. if people are severe is they bring them into the hospital but you if they are not severely ill with the flu they bring them outside to the mobile surge tent. >> the capacity was overwhelming. not only weren't patients being seen but also patients -- not only with patients being seen but a bed to be admitted.
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this s to decrease those who have milder flu symptoms we can see them and treat them and discharge them effectively and efficiently from the tent. >> pennsylvania is one of many states where the flu cases seem to be rising. 4300 of the 11,000 cases in pennsylvania occurred in the last week and 18 of the 22 deaths also in the last week. everyone sen couraged here to get the flu vaccine. it is well matched to the current strain. said to be 62% effective by the cdc. if your symptoms are mild, you don't necessarily need to go to the hospital. >> if you are are sick, please stay at home. if you -- please use proper cough etiquette, washing your hands, covering your cough. these are important things that every person can do. >> neil, children, the elderly and people with preexisting conditions are the most
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susceptible to the worst strains of this flu. if people are suffering from chest pains or shortness of breath they are encouraged to see the doctor and if your symptoms keep getting worse you should probably check it out at a hospital. >> something else that will likely make you sick. $10 billion. is how much experts think this flu is going to phoneyingl fanf the economy for the cost of those that can't make it to work to theaters and restaurants that can't fill their seats. to charles payne. >> more than that. dollars is a typicalta is a number. driving has been a breeze. it is scary how few cars are on the road right now. on monday i thought well the tourists are gone. this has to definitely be the reason. and you start to do the multiplier effect. obviously lost productivity. most businesses are working
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bare bones as it is and they have been for many years now. so you start to consider the kind of toll that this could take if it goes on another week or two weeks this $10 billion number is going to be puny. >> neil: and the problem is this is earlier than normal for something like this to have had and it has and it could expand. a guy like you who looks at the impact as well quickly on the economy, has it translated yet into the markets -- hasn't translated yet into the markets but we to know it affects volume and people's moods and they quite properly repaireddize and all of that. what is the residual impact? >> more of a negative impact on the economy than the markets themselves. the markets have a way of sort of saying that was a one-off. >> neil: they don't look at this as something con tagion fear, just a flu that seems to
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have gripped earlier than thought. >> probably another week like this, any gdp numbers will be adjusted. maybe a small fraction but they will be adjusted. the market says this happens every x amount of years. one off. the economy, real people, real jobs, real economic circumstances are going to take a hit. >> charles payne, thank you very, very much. meantime, almost half of americans, almost half of the population expect to get a flu shot this year. so what about the rest? why aren't they? >> i have get to get the flu shot. i'm afraid i will get sick taking the flu shot so i don't take the flu shot. >> we got flu shots. we are healthcare professionals. >> i did not. >> you did not. >> i had a bad reaction last time. >> i did not yet but i will shortly. >> i know people that have don't the flu shot and have still gotten the flu. >> i never had a flu shot so that is why i haven't got one yet. >> i don't get the flu shot. i don't like it. >> she already had the flu.
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>> i already had the flu. >> the only time i have done it, it gave me the flu. >> within seconds after that they all got the flu. >> to dr. mark siegel on whether the fears are justified. what do you think, mark? >> all about fear. a lot of the people flooding the ers are not afraid of the flood. might not have symptoms that warrant it. then people afraid of the vaccine. it cannot give you the flu. it has a dead virus in it. you can't get the flu. you can get a little allergic reaction or muscle ache or a sniffle or a tiny fever. it goes away in 24 hours. it doesn't give you the flu. it can't give you autism. people afraid of needles can take a flu mist. it is disturbing the fear we are having of the flu would be replaced by a better vaccine. we have a good match to the flu strain this year. so take the vaccine now.
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>> you told me the efficacy and success rate is barely 60%. that mean there's is a 40% shot the shot is not going to work. >> let's go over that for a minute. it is not exactly right. it is closer to 90% that you would have a milder case if you got it. 60% that it protects you but if you have the vaccine and get sick with the flu despite the vaccine chances are you won't end up in the hospital if you you had the vaccine. >> neil: if you do get a flu protected by the vaccine whatever flu you don't get won't be as severe as if it had been the case. >> if it is the bad strain. it is 80% of the flus out there. if you got that bad strain or if the strain you do get is those that ite vaccine, even if doesn't work for, you will get less is sick. it is a really smart thing to do and it will help treat the fears here. >> neil: what about the
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strength and -- more strains and typically in severe contagions. we are no where near that now. we are at a stage where suddenly we are dealing with a flu that arrived a lot earlier and spread a lot further than we thought. what happened? >> that is an excellent question. it will peak in another few weeks and we know there is the predominant strain. the flu mutates all the time. it will not morph into something more severe the next few weeks. >> how do you know that? >> because it is already are too late for that to happen. it is too late in the year for that and it is not a pandemic. this is the yearly flu strain. typically when you see a flu strain like this this ends up being it this. we target it and we got it and it will get worse before it gets better but it is not going mutate at this point. >> neil: can different flus evolve? >> and other strains that take
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over from this one. looking at it the only other major are flu still out there is the old schwinn flu in 2009 and that is in much, much weaker shape than it was a few years ago. fear is the billingest virus we have right now. take the precautions. wash your hands and isolate yourself if you are sec. you don't stay home from the work if you don't have the flu, you say home from work if you have the flu. >> neil: a lot of people nervous about their own job security come into work anyway if they have flu h-like symptoms. they don't necessarily have to have the flu itself. what is the rule of thumb? >> that is a disaster. if you have flu-like symptoms even if you are feeling better are you continue to shed the flu for about a week afterwards. people that have the flu or are told by a physician they may have the flu should stay home for a sigh lid week and do is as much as they can by
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computer. it will cost billions more if they go to work. >> have you you been writing a lot of doctor's notes lately? >> and giving out a lot of vaccines and wroting a lot of tamiflu for people sick with the flu. people in high risk groups should be considered for tamiflu as well. it is going to get worse before it gets better. worse before it gets better, neil. >> neil: thank you very much. forget the sting that you will feel with the flu shot. worry about the tax hit that comes along with it. rich, what is this all about? >> coming from an item in the washington examiner highlighting a bill in congress to include flu akro vaccines oa list of evacuation scene vaccit taxes. it goes to the national evacuation seen progroom. they ♪
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money on establishing evacuation scene costs and establishing a fund for those injured by evacuation scene var money. it has been investing much of the tax proceeds in u.s. treasuries. in other words, the evacuation scene tax money goes to help finance the national debt and then the if federal government pays that back with interest. of the nearly $16.5 trillion in national debt, $4.8 trillion s in government funds and accounts like this investing in the u.s. government where the government is basically borrowing itself. it goes to it investors around the world and state and local governments and businesses. if the proposal passes congress each shot will cost 75 cents more and could end up helping to finance deficit spending. the centers for disease control says dugmakers expect to pro deuce 135 million doses. at 75 cents a shot that is more than 100 million north dakota revenue.illion in tax
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>> this is looking more are and more like a contagion. i'm not talking about the flu you thing. this white house spending isn't a problem thing. first the president and now his press secretary. i know they say a broken clock is right, what, twice a day. what does that make these te
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and stop further joint damage before they stop you.
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>> neil: a little more than a week after the president said that the nation apparently didn't have a spending problem we get this from his white house press secretary. >> deficit reduction s not a goal, a worth you goal unto itself. >> kate says that is the problem. the whole problem right there. amazing. absolutely amazing. >> i don't think it is that amazing, neil. this is what has been going on all along. what amazes she that republicans continue to be flabbergasted that the president has no intention
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whatsoever of talking about deficit reduction or containing spending or any sort of reasonable budgeting. the senate may be passing a budget. this president's goal and that of his press secretary and his to be treasury secretary lu is fundamental transformation. is what the misunderstanding here is. we seem to think that every president wants a legacy of budgetary sanity and wants to leave the country in a better fiscal position than we he found it. this president wants to fundamentally change america. everything he has done has been in that direction. paul ryan said he is shocked at how partisan this president is. he is partisan. he will continue to villify republicans and say they only care about the mega wealth.
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>> neil: it would explain even if you want to just cynically step back from this, it would explain the posture like on the cliff deal that was whatever it was, 40 plus to one tax hikes over spending cuts because they didn't see the need for spending cuts report need to address the underlying problem with entitlements when so many blocks of democrats ultimately decided don't touch it and this deal doesn't touch it. now, a word from a key group of democratic senators meeting with the president when it comes to the debt ceiling thing we will give you the is power whether it is the 14th amendment or not to just raise this sucker yourself so you can find creative hoops around the debt ceiling mess without addressing the underlying spending that led to that mess. it does explain a lot. >> the arrogance of hai harry d today and other senate leaders when they said we will not
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allow the republicans to hold the country hostage by considered unbalanced approaches? didn't we just see a massively unbalanced approach after the president promised that it would be bald? the promises mean nothing, neil. it is time for the republicans to recognize the president is playing. >> neil: they didn't want to look like obstructionist. the reid democrats are telling them they got from the election more were vindicated, nor taxes not more spending cuts. i would agree to far to say the president got the support of americans to go ahead and hike taxes on the rich. i don't subscribe to that view or support that view. nevertheless he probably won and that basis but did not win on any basis to just ignore spending. >> the republicans did win a majority in the house of representatives. if you say the president had a
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mandate which 50% plus is hardly the mandate. the republicans in congress have a responsibility on. >> neil: did they forget that thing. it is one thing to cave onion issue and maybe because you had to but come on. >> they don't understand the approach of obama of turning them into literally the enemy of the american people. >> neil: $4 billion a day. >> it is time got a back gene. they are cower. they he should be more scared of being primaried and losing their seat. whether they lose to a more conservative republican or democrat they will lose if they don't stand up. they should be a little bit concerned about the fact that we are headed at breakneck pace towards greece. they are so scared of the blame game and being portrayed as the big villains of the american people. that is what scares them. >> neil: we need a flu shot
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needles. like a long one. >> time to face down these attacks. >> neil: thank you very much. certainly i'm not -- i know the money going in and the money going out. there is a lot more money going out and you can't solve it with just a lot more tax money coming in. you got to address the money going out and we are not doing it at all. just about the only problem boeing dreamliner hasn't had this week. a snake on one of its planes. how the heck did this python hold on? ♪ come on and take a free ride ♪
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>> neil: talk about on a wing and a prayer. you are looking at, well, what was live. instead of paying for a ticket a massive python decided to hitch a ride out of australia on the plane abouts wick. wing. the passenger holding on but ended up dead on arrival. meantime, no snakes on the plane for boeing. the company is dealing with other problems with the dreamliner and now the faa launching an investigation. dan springer with the latest on that. >> a sweeping review of the 787's electrical system. they will look at everything from the design to the manufacturing process. all of way up to the assembly. it was triggered by a series of electrical problems injuries the most recent and most seriouspy far was the fire involving a lithium battery on a dreamliner parked in boston. the f.a.a. review willing much,
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much further. this december there were three electrical problems on three separate dreamliners. appear to be unrelated to the battery fire. while the review is going on the 49 dreamliners in service will be allowed to continue flying and officials at the news conference this morning announcing the review repeatedly said the planes are safe. >> i believe this plane is safe and i would have absolutely no reservation of boarding one of these planes and taking a flight. these planes are safe. >> in addition to the electrical problems, a different 787 had a fuel leak this week in boston. that delayed a flight from boston to tokyo for hours and today two more safety issues detected. an oil leak and cracked cockpit wind shield. most of this is normal birthing issues that hit every new plane. still, boeing has a lot riding on the 787.
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the revolutionary carbon desigl efficient but requires a lot more power to be generated on the plane than any other model and that is why the batteries and electrical system are kit k58 to the operation. the company remains profitable overall. sales of the planes strong. now, the key is keeping customers confident in the product. neil? to a tax plan about to take place. the louisiana governor wants to replace a tax in his state. he would have a lot of revenue make up. do you think he could do it, dave? >> i think he probably can, neil. among other things not being considered. he is looking at it and it would be an economic development tool. the idea is not everything is static and there is a limited pie. the idea says i want to make
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the state more competitive and want the economy to grow and companies to come here and people doing more activity and if you get a bigger pie it is easier to generate the tax revenue. that is a concept that seems to be incredibly lost on many of those in washington, d.c. that it is not all about a fixed and shrinking pie, that you can make the pie bigger and generate more revenue doing it. >> neil: i'm thicking about states that do one or the other. very few i could be wrong with the exception of alaska but that, of course, gets a lot of money from oil companies there. is this a live for him? i know he was trying to stand out as there will be no one with conservative like that if you like cutting taxes. but is there is risk that is boom meringuearangs on him. >> i don't think so. imagine the business and investor are and consumer sentiment you would see if
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congress grabbed the same kind of initiative in the country and said we are really going to change and simplify this thing. the national taxpayer advocate said it takes 3 million people working full time to do tax just to comply with the tax code. >> neil: it would change upside town to where revenues are the priority and not cutting spending. here you have a governor that says revenues are the problem, get rid of that. >> he is not saying get rid of it. >> neil: he is turning the argument upside down and putting the onus on the government to be more productive. >> and on economic growth instead of economic stasis. >> when you get off the greed feed the government that let's say liberal would fear getting hosed. >> and more income means more
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consumer spending and more economic activity and everybody wins. >> bold move. meantime we will help each other get past this flu thing, right? wwe h shake on it. i mean don't shake on it. don't be surprised if he gives you ther in return. it's the flu you.fo who knew. but for most of us it represents something more. it's the time of year that we have all waited for. when we sit on the edge of our seats for four quarters. it represents players reaching a childhood dream. the biggest stage there is in sports. a time when legacies are made. where a magical play can happen every snap, and you remember exactly where you were when it does. watch every moment of super bowl xlvii live on nfl mobile. bringing the big game to you when every play matters... verizon. call star-star nfl to download nfl mobile from verizon.
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this could be the new sign of the times. companies cracking down to keep the flu cases from going up. handshakes proving to be risky business. saint mary's bank in new hampshire is holding off on the handshakes all together and customers are more than okay with it. thanks for cormiering. how did you first -- thanks for coming. how can d. you you announce the no handshake policy? >> we sent out e-mails to the branches and signage obvious to the members we would refrain from shaking hands in the flu season to help reduce the transmission of the flu. >> how did customers react? >> we are a credit union so we refer to them as members. they have been supportive of it and appreciative of the fact that we are trying to protect their health. >> neil: any one complain at all? >> not at all. it has been well received by members and employees. >> it is human nature to shake someone's hand or acknowledge
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their presence or to say hello. do people just sort of walk up and say oh, i forgot, i forgot. >> actually if they walk up and extend their hand. >> neil: you slap it. >> not at all. we will reach out because we do make hand san i sanitizer disps available. >> makes them feel like a million bucks. you shake their hand. >> typically not while the member is present. we offer the opportunity i deal with a lot of folks from the pub live and if you like to use the hand sanitizer dispenser to reduce the rick o risk of flu s welcome. >> neil: has anybody gotten the flu at the bank? >> a few have called in sick. but nothing alarming.
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>> flu related sickness. >> sometimes it is difficult to determine whether it is cold or flu. when the employees do start to exhibit symptoms we is support them staying home and reducing the risk to other employees. >> i bet they weren't using the sanitizer. might have to mark them up. a good way to keep people healthy, a good idea. >> you is hold off on the handshake but cannot the escape your desk and computer and mouse and keyboard. the office coffee pot and the gross coworker who can't stop sneezing. they are crowded with germs. and i haven't even started talking about -- >> don't go in. don't go in. >> enough to make you sick, isn't it. germ expert kelly reynolds says it probably should make you sick to think about what is at risk here. do we have to avoid and be
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really careful about? >> i like the idea of not shaking hands because your hands are the primary vessel for transmating germs. the work place we completed a study where we tracked one sick person coming to work and found their virus on over 50% of the is surfaces in the office building. >> so everywhere they go, right? spell it out for are me. >> everywhere they go. one of the surprising things about our work, too, was that we also found it is not just in the common area. you you mentioned the kitchen area or maybe the copy buttons or elevator buttons but we also tracked that single person's germs back to an individual's office. so think of your office cubicle. you think it is only your space but when you interact with other people throughout the work day in bathrooms or the common areas you bring their germs back to your are office and your computer keyboard and mouse and area in front of your desktop harbors thousands of germs. >> we are so used to thinking
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sneezing and the bathroom and the other locals where everyone goes, soda machines, what have you. pretty soon people are not going to pick up their phone or leave their desk. happy middle ground? what is it? >> we find simple interventions. one of which is hand washing and frequent hand washing. washing your hands before you eat and being aware when you touch your face. any time you touch your eyes, nose and mouth you want to do so with clean hands. make sure you are washing your happens. that is the first defense. if we is supply hand sanitizer and disinfecting wipes employees tend to use them and shows a marked reduction of germs in the work place. >> the portable ones that you take with and stick in the pocket they are a a dream. >> how would you recommend and maybe there is etiquette, how
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do you you deal with the guy sneezing like crazy or coughing up a lung at work. what do you do? >> well, studies do show that about a third of employees that are surveyed go to work when they know they are sick and so this presenteism thinking you have to be at work when you are ill is not doing any one a favor. you are transmitting germs to coworkers and costing the employer more money. >> say hey, get out of here. what happens if it is in the theater. i had this. i saw a movie just last week and there was one guy i thought he was going to expire in the theater. but very loud. obviously very sick. what do you do there? call the theater owner and say i have this person carted out? what do you do? >> i would move. the germs when you - -- three feet in any direction. you only have is to move three feet. germs stay in aerosols for a
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short period of time. a couple of hours. the real concern is when the droplets settle on surfaces and hands pick them up and later transfer them to your mouth. avoid the person that is coughing or sneezing and stay within 3 feet but worry more about what you are picking up on your hands with the things that you touch frequently. >> neil: you thoroughly grossed me he out, doctor but i appreciate all of the tips. if you have a guy like this at work, just avoid him. just avoid him. it will take minutes before beon expires. a battle over man's best friend. why this pup's accidental death wasn't even supposed to happen but you a cruel fluke could take a serious bite out of someone's wallet. maybe even yours. on ] eating shrimp at red lobster is a fantastic experience. 30 shrimp for $11.99. i can't imagine anything better. you're getting a ton of shrimp, and it tastes really good! [ male announcer ] hurry in to red lobster's 30 shrimp for just $11.99! choose any two of five savory shrimp selections,
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>> is fido worth a fortune.
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a texas sports medicine court is weighing whether grieving dog owners can sue for emotional hardship after losing a pet to negligence. it happened to a family whose dog avery was put to sleep accidentally. do they have have a case? attorney tamara holder and fox news legal analyst lis wiehl. >> they absolutely have a case. the poor dog escaped from the home and was caught by the shelter. the owner went to the shelter and was told that he could come the next day and bail the dog out. no problem. everything was going to be fine. in between within 24 hours 8-year-old dog is dead. >> because the shelter put the wrong one to sleep. >> yeah. and that is a. >> i didn't put the doug to sleep. >> i know. >> i agree. >> they have a case. >> i disagree. i respectfully disapee because. >> neil: you don't have to respectfully disagree. just disagree. >> first of all, you have a duty as an owner to care for your dog and to make sure that it doesn't run away from the
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home and this is the reason why the law allows for dogs and cats and other and millions to be euthanized because there are are runaways and strays and the state cannot afford are to care for the stray animals. >> did the dog have a collar identifying it? >> he did. >> it was less than 24 hours. >> we are talking about a narrow issue here and it is whether or not they can sue for emotional damage. the state of texas does not allow for that to occur. it doesn't allow. >> neil: you would argue that loss of a pet to a lot of pet owners is right up there with the loss of -- >> this is an 8-year-old member of their family. been with them for 8 years and gone for 24 hours and then killed. >> you know, when you see that face. that was a very callous face. >> here is the thing. let me just offer you thereth. what happens if the dog runs away and a guy is driving down
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the street and he hits the dog. it's an accident. >> but the dog ran away from the person's home. avery ran away. now, do you sue the driver of the car because maybe he was going down the street too fast? you are opening the flood gates. >> no you are not. >> neil: there is a difference between -- wait a minute. there is a difference between pound or whatever accidentally killing a dog. >> negligently killing a dog. >> and a driver doing the same. >> the dog runs out are cat runs out. i live in fear of my house cat doing the same thing. i wouldn't sue the driver of the car. >> you are opening the flood gates. >> you are not. >> the next person who loses a member of their family to a guy driving down the street -- >> neil: you know what i worry about. the one thing i worry about let's say you are right and you can and you do. they will have to all of the shelters or a pond pound when
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you drop off a dog you will cover a premium to cover their poe he tension litigation to feed guys like you. >> maybe a nickel more an hour or something. maybe a little bit more. >> neil: i think not. >> don't you think if the employees are are on notice that, yes, we can be sued over this they he will be a little more careful. >> you don't think that they feel awful that they did this? >> that is not enough. >> neil: you want a pound of flesh. >> the family is saying we want to create a new rule. we want something. it does not exist. >> neil: we are drawing a distinction here between because it is a cute little animal and i love dogs as much as the next guy that somehow over aggressive lawyers are perfectly fine because this is fido we are are talking about or avery in this case. looks like a wonderful dog. i'm just saying where do you
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draw the line between what is cute litigation and what is over the top? >> it is emotional distress and sentimentsal value. positive for salmonellposit another scenario. an older man or older are lady, the doug runs away and they are killed by the sheller. what about that? should the shelter be responsible? >> who are you putting the responsibility on, the owner who let the dog get out. >> openers need to be responsible for their pets or their children. we are talking about personal responsibility here and then on top of that. >> neil: but you don't hold the responsibility to the shelter. >> they shouldn't kill the wrong dog. >> they are not like a pet hotel or whatever. they take the dog and. >> neil: do you have two pets? >> i had. now, my apartment is too small
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in new york. >> neil: you have open wounds here. what about you? >> i have pets. >> neil: i know this is going sound indifferent to a lot o of people. we to get past that and think of are we using a horrible tragic incident like this to score a pay day for lawyers like you. >> i don't think so. that is all sentimental value. >> neil: the lawyer will take a third of that. outrageous. >> you can't. get the lawyer out of it. that is not the issue you. >> wait, it is. >> neil: get the lawyer out of it. >> whether or not it has a sentimental value attached to a pet. you don't care about it, you want to hit pay dirt. >> i want to make sure that fido and avery are okay when they go to the shelters. >> neil: i think everyone at the shelter feels awful right now. compounding this by a legal fight will make doing everything there a lot more expensive. >> it doesn't have to be a
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million dollars for avery. >> they haven't offered a number. >> you are getting into the weeds neill i would love to get more time but i do want to look national separately. the battle over cuts is heating up. byron york is barking. khis is a real quick me, that's perfect for two! campbell's chunky beef with country vegetables, poured over rice! [ male announcer ] campbell's chunky soup. it fills you up right. .. mine was earned in djibouti, africa, 2004. the battle of bataan, 1942. [ all ] fort benning, georgia, in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation
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>> neil: if congress can't come up with spending cuts the secretary of defense leon pa nepanetta telling the pentagono get ready to make the cuts themselves. that is not what worries byron york. not if they should be cut but how. >> how is the big thing. the issue now is the so called sequestration cuts which were suppose go into effect the first of the year. they cut $1.2 trillion in
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government spending. half of that, $600 billion for defense. a grossly disproportional amount for defense but there it is. >> neil: over ten years. >> the problem with it is they are across-the-board cuts. they don't distinguish between good programs and bad programs, hardware and people. just an across-the-board cut and what you have seen is a lot of republicans who are justly opposed to that kind of cutting essentially posing all pentagon cutting and what i was saying in the piece today is that just because the sequestration cuts are bad doesn't mean that the defense budget is sacrosanct. it can be cut by a significant amount. >> neil: it would help the republicans make the argument we are open for cutting spending for things we hold dear and you should be open to cutting spending for things you hold dear. this doesn't seem to resonate in an atmosphere where there is no cutting going on period.
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>> the leading budget hawk who talk about this, basically they say back in 2007 the height of the iraq war the troop surge was going on, a very expensive proposition. the base pentagon budget was $431 billion and that did not count the cost of the wars in iraq and afghanistan but the base was 43 $431 billion. today the base is $551 billion. people are saying why should it be so much more today than it was in the peak war years of 2007. to get back to the 2007 spending levels would require significant cuts. >> neil: real quickly, are they going to resolve this before the 11th hour? >> i think they will. there is bipartisan horror about the defense cuts especially. not just republicans, some democrats worried about it. obviously leon panetta the democratic defense secretary has been calling on capitol hill saying do not let this
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happen. >> neil: thank you very much. sick of this rally? how you about too sick to enjoy this rally. taking stock of what is really important, sniffles and all. [ male announcer ] don't just reject convention. drown it out. introducing e all-new 2013 lexus ls f sport. an entirely new pursuit. [ bop ] [ bop ] [ bop ] you can do that all you want, i don't like v8 juice. . a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8.
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this easy-to-understand guide will answer some of your questions, and help you find the aarp medicare supplement plan that's right for you. >> neil: your money, or your life? lately with the flu thing, i'm thinking life. i'm thinking this week i'm not alone. a lot more folks panicking about getting sick than stocks. it's true. creating volume on the stock exchange lower than normal this week many because so many of rus feeling weak. that's what happens when an endepic take hold. priorities take hold as well. suddenly you are not so interest in making a killing as much as not getting killed. not dieing to make a progress, just not dying. i don't mean to be flip. but our perspective is flip. the flu thing isn't as bad as it seems but it's cruel events like nothing we've